Get the Facts on the Private Commercial Refinance Program

21 Mar 2018

If you’re looking for the quickest way to access equity but don’t qualify for a conventional commercial bank loan, then fortunately for you there’s an option designed specifically for your circumstances: The Private Commercial Refinance Program, among the many programs and loan options Legacy Park Mortgage specializes. Learn more about this little-known but potentially lucrative program and how we can help.

Fast Facts About the Private Commercial Refinance Program

The main thing that sets this program apart form other commercial bank loans is its sheer versatility. You can access at least $500,000 in funds, with an interest rate of only 6.5%, for up to five years; the term can be doubled to up to ten years for $1 million investments, like multifamily developments.

That is why this program is popular for investors of all backgrounds and portfolios, since it supports investments properties of nearly all types, including office, industrial, warehouse, self-storage, and even mobile home parks. The only restriction is that the property must be part of a commercial / investment pursuit, and thus cannot be owner-occupied.

Although the private commercial refinance program is restricted to Florida, the state’s vast and diverse real estate market should be more than sufficient for just about every type of investor. More to the point, this option allows for foreign ownership, making it a particularly enticing choice for the thousands of foreign nationals seeking big returns on Florida properties.

If you are looking to close on a lucrative deal quickly, that is yet another perk of this program: its requirements and procedures means you can get the funds you need fast, allowing you to close expeditiously.

Finally, as a nonrecourse loan, the private commercial refinance program can give you a fair amount of protection in the event of a bad investment: in the event of a debt, the lender can only go after the assets used as collateral for the loan (e.g., the commercial property). All other assets are off the table even if the lender comes up short based only on the subject property.

Hire Experts in the Private Commercial Refinance Program

If you are an investor seeking a quick and relatively easy source of funds for your next big endeavor, this option may be your best choice – especially if you are a foreign national and/or otherwise unable to qualify for a typical commercial loan. But for all its benefits, this program still requires quite a bit of expertise and experience to access and qualify for – so rather than take up any more precious time and energy trying to figure this out on your own, contact the experts at Legacy Park Mortgage.

We have both the proven expertise and the vast professional network you need to find the right loan for your needs. Just call (305) 901–1791 or email us at info@legacyparkmortgage.com to learn how we can help get you started.